Posted 4/3/2024, 7:34:28 PM
Wealth Gap Widens Further Despite Bull Markets, With Richest 10% Owning Vast Majority of Assets
- The wealth gap between the top 10% and bottom 90% continues widening despite bull markets
- Just 10% of families own 74% of total household wealth including home equity
- Liquid financial wealth is even more unequally distributed
- While number of 401k millionaires rebounded, they comprise only 1.6% of total accounts
- 50% don't save due to lack of funds and 50% due to psychological reasons like buying high and selling low